The report titled “Biodegradable Stents Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025” offers strategic insights into the overall biodegradable stents market, along with the market’s size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of multiple market segments based on types of products, materials, and different geographies. A key estimate for interventional cardiology discussed by Transcatheter Cardiovascular Therapeutics (TCT) and the American College of Cardiology (ACC) in a meeting is that biodegradable stents will eventually replace conventional metallic stents in the near future. The rising prevalence of coronary artery disease, rising obesity due to sedentary lifestyles in the young population, and cardiologists’ increasing preference for biodegradable stents are the key factors assisting the growth of the biodegradable stent market.
For the purpose of this study, the global market for biodegradable stents is segmented on the basis of material type into polymer and metal. The product segment comprises the market for coronary and peripheral stents. Market size estimates and forecasts for these segments for the period 2015–2025 are provided in terms of USD million, along with the respective compounded annual growth rates (CAGRs) for the period 2017–2025, considering 2016 as the base year.
The geographical segmentation of the biodegradable stents market comprised regions such as North America, Europe, Asia-Pacific, Latin America & the Middle East, and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, Brazil, and GCC countries. The market size and forecast for these segments during 2015–2025 and their CAGRs for the period 2017–2025 are provided in this report.
The biodegradable stents market is observed as the most diversified and competitive market, comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Abbott Laboratories, Arterius Ltd., Boston Scientific, Inc., Biotronik, Kyoto Medical Corporation, Elixir Medical Corporation, Biosensors International, Terumo Europe NV, Ella CS, Arterial Remodeling Technologies SA, SMT (part of the Sahajanand Group of Companies), and others.
Based on the type of material, the global biodegradable stents market is segmented as follows:
In 2016, polymer-based biodegradable stents accounted for the largest market share due to key driving factors such as the risks associated with metal-based biodegradable stents, reduced target vessel revascularization (TVR), long-term safety, and reduced risk of stent thrombosis and myocardial infarction. The most competent stents available in the market are the zotarolimus-eluting stent (Resolute, Medtronic), the cobalt-chromium everolimus-eluting stent (Xience, Abbott Vascular), and the platinum-chromium everolimus-eluting stent (Promus, Boston Scientific). According to market experts, clinical research has shown that resorbable stents offer a comparable efficacy and safety profile to drug-eluting stents. Thus, the global prevalence of coronary artery disease, cardiologists’ increasing preference for percutaneous coronary intervention procedures, and the increasing use of stents are expected to contribute significantly to this segment’s soaring revenue during the forecast period.
Based on the type of product, the global biodegradable stents market is segmented as follows:
- Coronary Stents
- Peripheral Stents
The coronary stents segment accounted for the largest share in 2016 due to key driving factors such as the rising prevalence of coronary artery diseases worldwide, increasing cardiologists’ preference for percutaneous coronary intervention procedures, increasing awareness associated with early diagnosis of cardiac diseases, and increased application of stents. According to World Health Organization (WHO) estimates, around 17.3 million people died from cardiovascular diseases in 2008, and it is expected that each year more than 23.3 million people will die due to cardiovascular diseases; this trend is predicted to continue until 2030. However, the Centers for Disease Control and Prevention (CDC) in the U.S. suggested that the number of deaths due to coronary artery diseases has started decreasing due to an increase in the number of percutaneous coronary interventions being performed by using a range of coronary stents available in the global market.
For the purpose of this study, the global biodegradable stents market is categorized into three segments:
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
In the base year 2016, Europe accounted for the largest market share due to key drivers such as increasing public awareness related to early disease diagnosis, increasing obesity in the geriatric population, and easy access to modern medical facilities. According to the Europe Heart Network, each year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Hospital discharge rates for CVD as a whole have increased steadily in Europe over the past 25 years. During the forecast period of 2017–2025, Asia-Pacific was observed as the fastest growing biodegradable stents market due to key drivers such as premium pricing for life-essential devices, push strategy approaches by key players to penetrate the market, India being the largest market in Asia-Pacific with a huge population, and rising healthcare expenditure assisted by mounting economic growth.